After Zomato, Swiggy sacked 1,100 employees across its offices in India on Monday. Co-Founder and CEO Sriharsha Majety announced the news in a town hall and sent an email to all his employees, giving details of the strategy to deal with the Covid-caused disruption.Â
Majety wrote in the email sent to the employees, â...today is one of the saddest days for Swiggy as we have to go through an unfortunate downsizing exerciseâŠwe, unfortunately, have to part ways with 1,100 of our employees spanning across grades and functions in the cities and head office over the next few days.â
Over the next few days, the HR team along with the line manager will have a one-on-one conversation with impacted employees, providing further details regarding the next steps and clarifying any questions if they have.
Majety wrote, âWe are fully committed to providing the best financial, emotional and career-related support that we can to make this journey less painful, and to ease the burden on you and your families. We have done our best to be thoughtful and express our gratitude and support through a care package, with details below.â
The impacted employees will receive at least three months of salary, irrespective of their notice period or tenure. For every year the impacted employees have spent with the company, Swiggy will offer an extra month of ex-gratia in addition to their notice period pay, working out to between 3-8 months of salary depending on the tenure. For example, if someoneâs notice period is three months and theyâve spent five years with the company, they will get eight months of salary.
Swiggy will also be extending ESOP vesting to the nearest quarter (including the months of the notice period) and waive off the 1-year cliff for those who have not completed a year. The company also extended its medical, term and accidental insurance for the impacted employees until December 31, 2020. The employees can also retain their allocated work laptops and get mobile phone communication allowance for the next three months. The brand will also support impacted employees who have relocated to join Swiggy within the last one year by reimbursing the expenses in case they wish to move back.
Majety shared Swiggyâs strategy to tackle the pandemic in five points: